May 6, 2010 / 10:45 AM / in 8 years

UPDATE 1-CML HealthCare Q1 profit falls

* Q1 EPS C$0.23 vs C$0.26 last year

* Revenue down 2 pct

May 6 (Reuters) - Canada’s CML HealthCare Income Fund CLC_u.TO, which specializes in imaging and laboratory services, posted a 9 percent fall in quarterly profit, hurt by weakness in its U.S. operations.

Net income for the first quarter was C$20.9 million , or 23 Canadian cents per fund unit. That compares to C$23 million, or 26 Canadian cents per fund unit, a year ago.

Chief Executive Paul Bristow said severe winter weather in February resulted in the closure of its centers in Maryland and Delaware for a number of days.

Coupled with the extended closures of physicians’ offices, CML’s overall U.S. medical imaging business experienced lower patient visits in the quarter.

Revenue fell 2 percent to C$125.4 million.

The company also said it plans to convert into a corporation on Jan. 11, 2011.

Units of the company closed at C$11.34 Wednesday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Vinu Pilakkott)

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